Sustainable economic development in Africa
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The debate on economic development in Aub-Sahara Africa has been changing. Raising economic growth, productivity, and investment remains on the top of the policy agenda, but aspects of sustainability and prevention of forced displacement have significantly gained in importance. In the development community it is now consensus that economic development has to be sustainable.
The research presented in this Website Special examines to what extent economic development in Africa has been environmentally, socially and economically sustainable in recent years and what kinds of economic reforms are needed to promote sustainable development in Africa.
Our research suggests that in Africa, there have been numerous policy innovations to develop its economies in a sustainable manner, including for instance the development of environmental standards for investments or the development of local currency bond markets to reduce risks of external indebtedness. However, our research also demonstrates the barriers to sustainable economic development, which tend to be both financial and behavioral, and tradeoffs between different dimensions of economic development such as productivity and ecologic sustainability.